tv Dw News LINKTV July 8, 2015 2:00pm-2:31pm PDT
responsible for its caption content and accuracy. visit ncicap.org] brent: this is dw news live from berlin. put on final notice. the european union says sunday is the last chance for a bailout agreement between greece and its creditors. no more blame game, no more excuses. >> we will wake up in four days in a different euro. brent: the council president warning all of europe if the greek solution is wrong, there will be no going back.
resumes trading after a technical glitch brought trading to a screeching halt. he will have the latest from the floor. and wikileaks makes new revelations about america's spying on germany. a phone list suggests the nsa has been listening in on berlin for decades. i'm brent goff, good to have you with us. now more than never the people of greece and everyone in europe are counting on the greek prime minister to keep his word. he will deliver reform proposals tomorrow to satisfy creditors that stand between him and a life-saving bailout package for his nation.
after five long years it's come down to one head of state doing his homework. to possibly keep the eurozone intact. most want him to succeed. far fewer trust that he will. >> alexis tsipras was welcomed with open arms at the european parliament. a clear sign that his handling of the debt crisis has polarized institutions. >> what we call the greek crisis is the manifestation of the inability of the eurozone to find a lasting solution. >> from the far left and the far right. >> people have had to put up with so much.
>> alexis tsipras said he was preparing sweeping reforms. they brought accusations that he was done doing his job. >> it will be left to the farmer and portugal and the nurse in slovakia to pay off your debts. >> president of the european council made it how clear -- made it clear how urgent it was. >> it will mean the end of the negotiations with all of the possible consequences. >> europe is making no promises about preventing the exit. brent: that's where we are right
now. as go to our correspondent in athens. alexis tsipras do the greek people believe he is going to present something tomorrow for the referendum? >> in any case the finance minister is back in athens from brussels and is working on the new proposals. there are no official statements from that but at least there are press reports. according to the press reports, prime minister suppress -- alexis tsipras is going to suppose among other things, cutting pensions and raising taxes.
to the defense budget, it was a quite controversial issue in the last months. this is more or less the proposal being discussed last week. and in theory, rejected on sunday's referendum. what exactly will happen we will know tomorrow. brent: on sunday, you and i were on the story. the prime minister promised those banks will be reopened. how is that going down dachau >> they did not have time to react from that because it was only a few minutes ago that the finance minister announced that the so-called bank holiday will be extended until the end of the
week. limits on withdrawals will be unchanged. 60 euros a day but there are new restrictions. for example, those traveling abroad can carry a maximum of 1000 euros per person. brent: thank you very much. it is time for some business news. we have a closer look at the consequences that greek businesses are facing everyday. the banks aren't there to help them right now. >> it is not helping the greek businesses right now. while they are demanding a proposal their customers can only take out 60 euros a day from cash machines.
many are saving the money instead of spending it because they don't know if the government will be able to afford to pay pensions and salaries. and as usual owners of small businesses are taking the first hit. >> businesses of all kinds are doing whatever they can to bring in customers. but it's difficult when money is so tight. he represents small businesses and urges the prime minister to come to a swift solution. >> greece isn't in an a sexy asian condition. the market will require at least two months in order to recover. >> more than 200,000 companies were forced to close.
three quarters of a million people lost their jobs. patience is wearing thin. life requires rules and dignity. let's be judged on actions and not just words. greece is dependent on imports for meat and dairy. the risk of shortages is growing day by day. >> the problem will be multiplied. this will not allow us to get goods imported. and we will have shortages. >> customers can't afford to spend. their future will remain uncertain. >> greece needs money.
a lot of it, and soon. and we need something like a credible business plan. high interest rates make investments very difficult right now. there is a way around that. >> the company's industrial parks are filled with assembly plants that have been abandoned as companies folded in the crisis. the greek economy is nearing collapse. soon it will be turning out 180,000 liters of beer a day. >> they stop and continue.
they compare to this moment and it is unstable. but also, we try to expose ourselves. >> it was backed by german export underwriter. it meant the equipment supplier had to re-cook it. they ran and a financial difficulties. but those kinds of investments -- have to pay interest rates a 14% compared to germany's 3% to 5%. >> there is a glaring difference between interest rates. it means we have far higher costs. higher than any amount of wage cut could possibly compensate.
we have to infest. in the last five years, there have hardly been any investments . we need measures to boost investments. >> if the greek economy is to get back on its feet, the investment climate. brent: despite the bad news coming out of greece, there have been some uplifting moments. thousands of kilometers. good evening to you. >> we have seen how the crisis in greece is affecting many people. it sums up the difficulties that
they are going through at the moment. the photo taken by a journalist and a man sitting there was a pensioner who had just been told that he cannot withdraw any money from the bank. imagine that was the fourth bank he had been to on that day. the photo went viral and somebody in australia saw the photo and said, wait a minute, i think i know this guy. turns out he's an old friend of his father's. he posted a message on facebook asking his friends to help him track down this man. the good news is he managed to contact the man in greece and is actually going to fly to greece next week. he is going to meet him and he says he is ready to pay his pension for more than one year.
brent: every story about greece does and with a silver lining there. thank you very much. the whistleblowing website wikileaks claims to show the nsa has been listening to german chancellor angela merkel's phone calls for years. it is the scandal that berlin and washington just can't seem to put behind them. >> the latest documents show the intelligence agency tapped the phones of angela merkel and her closest advisers for years. the whistleblowing website lists 56 telephone numbers. one of them is the extension of the personal assistant. it includes the cell phone number of the chancellor's former chief of staff. julian assange commented on the
latest revelations about the nsa's surveillance of germany. >> that way we can create a response. >> the documents show it was the heads of intelligence and the chancellor's office. even some confidants were under surveillance. closer examination shows the nsa was particularly interested in the chancellor's office. security trade policy, and intelligence services. they expressed dismay over the latest documents. >> we have to ask how we can achieve more security so that they don't penetrate and intercept information.
this is something that you don't think will happen but it happened today. >> trading resumed at the new york stock exchange. the world's largest stock market stopped trading for 3.5 hours today after a technical glitch in the computer system. barack obama was briefed on the situation. authorities are still investigating and the u.s. department of homeland security said there are no signs of malicious activity. >> everything came to a halt when the nyse suspended trading at all securities. they were worried that which was caused by a cyber attack in came as united in the wall street journal experienced technical faults. >> it appears from what we know, that the malfunctions that united and the stock exchange
were not the result of any nefarious actor. >> shares were rerouted through other exchanges which continue to trade. around 1/5 of the daily volume is traded to the new york stock exchange. >> there are bigger issues to worry about than a trading glitch. we have a chinese talk market that's plunging. we don't know if greece will have to exit the euro. it faces a sunday deadline to come up with a full proposal to come up with european lenders. i am more worried about those developments than a software problem. >> it seems a technical which could be the least of investors problems. >> all back to normal. any news about because? >> we still don't know exactly
what happened and even if authorities -- they were pretty quick to say that there was no foul play and no cyber attack. traders say that it is a bit fishy what happened. and also that we had those computer problems. i haven't seen anything like that in my 17 years on wall street. and what it basically comes down to is -- the trust in the financial system here today. >> give us a quick update on what else is moving wall street today? >> the day had already started on a weaker note. we saw another plunge in stock markets in shanghai and china where the market dropped again by another 6%. in the past three weeks, the
index lost more than 32% in value. that is some concern. a lot of uncertainty regarding greece. we had protocol of the latest meeting of the federal reserve and it kind of thought that it could wait a bit longer. nobody paid too much attention on the headlines behind -- besides what went on with the trading glitch. >> that's it from me for today. we will have an update for you in an hour. brent: gephardt, thank you very much. some other stories making news around the world. a naples court has convicted former italian prime minister berlusconi of corruption and sentenced him to three years in
prison. he won't have to serve the sentence. that is because the statute of limitations expires since an appeal can be heard. berlusconi was not in the courtroom. russia has vetoed a united nations resolution that would've condemned the 1995 massacre as a crime of genocide. russia says singling out bosnian serbs would create more division. bosnian forces overran the protected safe haven and murdered nearly 8000 muslim men and boys. 13,000 people have been evacuated from their homes in western canada as wildfires continue to rage. is the biggest evacuation ever in the region's history. more than 110 separate blazes have been reported. soldiers and firefighters have been brought in to help.
thailand is suffering from its worst drought in years. it is supposed to be the rainy season right now but the rains are long overdue. a supply and tap water can soon run out. farmers are being heavily affected along with one of thailand's most important export products. >> the soil is hard as concrete. they are struggling to survive. it is the worst drought the country has seen in decades. i am just waiting for the rain. if i can't grow rice, i don't know what to do. if the rain comes, we can breathe a sigh of relief. if it doesn't, i go hungry. i can only plow away and wait for the rain do come. without water, there is no
hardest. >> rice farmers will normally plant their rice or other crops. if the drought continues if we don't get the seasonal rain next year thailand's annual rice production will collapse so we can't export the metric tons. what can rice farmers do besides hope and pray? may be the rain ceremony ritual robe results in a blessing of much-needed rain. brent: stage five of the tour de france that ended well for the
german writers besides the wet and gusty conditions. keeping hold of the overall lead they are boxed in from 300 meters from the finish line. >> wednesday saw some major crashes. none of the overall favorites work called out. at martin was up to the task. >> that is when they power to the finish line.
it was a good day for germany. brent: to the number one ranked rory mcilroy who has ruled himself out. it has -- he has said that there is surgery and rehabilitation to follow. i am sure you've taken one. selfies. opera rusty, surveillance cameras, is there any such thing as privacy. the prestigious photocopy titian run by the german magazine of the same name. an exhibition that includes the
winning image opens tonight in frankfurt. >> a private rendezvous? you've got to be joking. intimacy is over. in fact, it is often voluntarily given away. the dangers that come from self exposure. all of these issues are the subject of this exhibition. >> many people aren't bothered. many people say i have nothing to hide. but the example is legion where people have to compromise themselves. >> the publication focuses on digital art like this one. the images are photographed, traded and join together like a puzzle made of different parts. everything was allowed.
you can't say that composite pictures are better or worse than the original image. i think that you can "draw something" out. that is, they are a different kind of image but are on the same level. brent: alexis tsipras has promised to submit reforms by tomorrow. and major technical problems stopped business. i will see you again at the top of the hour.
' minister alexis tsipras has requested emergency funding from the eurozone as tanks in his country remain closed good after meeting with eurozone leaders in brussels last night today he put his case to the european parliament. reporter: warm welcome for alexis tsipras from his allies in the european parliament. but the greek prime minister also greeted by jeers. in the wake of sunday's referendum tsipras is demanding any deal be a long-term solution .